(By Matthew Chan) So, you’ve finished your education to become a massage therapist and have started building a clientele, but how much should you charge for your services? Although pricing is not always simple, the following advice will help you determine the right pricing for your services.
Identify your target market.
The first step in pricing your massage therapy services is to identify your target market. This serves as the cornerstone of a prosperous enterprise. You must first determine the demographics of your ideal clientele such as location, age, salaries, etc. For example, if you aim to target affluent areas, you can offer higher prices than if you were to base your services in other areas of the city.
Do market research.
One of the most important steps before starting any business is to conduct some market research. Look at what your rivals are doing. This does not imply that you must charge the same, but it will give you a decent idea of where to begin when setting your initial cost for your services.
Set prices based on your experience and expertise.
How would you grade your massage? Do you have repeat customers? Do they give you praise? What you can charge for your services will rely on how many years of expertise you have in the business and how skilled you are as a massage therapist. A recent massage school graduate will typically charge less for their service than a skilled and knowledgeable therapist with years of experience and with more training.
As you may have anticipated, since different services necessitate varied pricing systems, there isn’t one set price that all massage therapists must adhere to. However, you can use that to your advantage because it’s best to establish a fee that accurately represents your current skill and education level and one that you are entirely comfortable with. That way, you won’t feel comfortable because you think the fee is too high or be disgruntled because you’re providing your services for free.
Your pricing plan must be swift. Your instinct may tell you to price low, possibly even below the lowest price in the range, in order to maintain pricing control while still making a livelihood. For example, you might believe that $60–$70 would be a good pricing point to draw in more volume of clients than the $90–$100 comparative price range. After that, you would gradually increase the cost. Yes, you might lose clients when you increase the price, but ultimately, you need to be making enough money to support yourself. As your workload increases, you can choose your clients more carefully and accept higher-paying appointments. Keep in mind that some of those first customers might not be willing to pay you the new price.
Pricing your massage at the midway of the price range is the other strategy for determining the price of your services. For instance, a mid-range price plan would be to charge $95 for your massage if the average price range of your competitors is $90-$100. This will entice potential clients who are looking to try out new massage therapists such as yourself.
As a massage business owner, one thing to keep in mind is that lower prices tend to attract clients who have a cheap mindset and may give you more trouble than it is worth. On the other hand, clients who are willing to pay a high price for a good service are usually more generous with tips and generally have a different temperament.
Giving discount packages.
The first step in developing discount offers that encourage customers to spend is to explore what your competitors are offering. To get an idea of how some other local companies handle memberships, discounts and promos, visit the salons and spas in your area, as well as their website and social media profiles, and call them. To entice customers to try your massage services, you can design unique introductory deals that are valid for a brief period of time. Following that, you must have a strong follow-up plan in place and have gained the trust of your clients so they will not only reschedule another massage with you, but they will also refer you to all of their friends.
Another strategy is to allow clients to prepay for sessions to receive extra free minutes; the more sessions bought, the more extra minutes the client receives. Offering inexpensive packages might not provide you with a high-profit margin, but it might help you make up the difference by attracting a more extensive and more dependable clientele. Give a client an additional 10 or 15 minutes for free if you have to. Spend as much time as necessary to properly solve the client’s concerns. This will aid in winning back that customer and increase profits.
You must have a solid pricing plan if you want your business to be profitable after expenses. A straightforward arithmetic calculation can be used to decide your pricing approach. Each service’s total revenue – overhead – costs = income.
For example: if you rent a private location, your monthly expenses will also likely include utilities, massage therapy-specific supplies, and even amenities. Renewals of permits, licenses, insurance, ongoing training, and taxes are all annual costs.
How much spas and clinics are charging in Quebec?
Before getting into the massage business, you should think about how much your competitors are charging, which will help you in deciding what to charge for your massage service. The average base pay for a massage therapist, according to surveys conducted in several cities, is $94.50 per session. In Quebec, the lowest session fee is approximately $45 and the highest fee is approximately $180
It’s not all about price:
As with any other business or industry, your pricing strategy is not the only factor that determines your success. Any massage therapist with the proper training can perform a massage well. However, there is more to massage therapy than just the technical aspects of maneuver execution. The main thing that keeps clients coming back are not necessarily your skill or your prices, but YOU. What will differentiate you from your competitors is who you are as a person, the energy you emit, your attitude, your ability to listen and communicate with your clients. Massage is a very interpersonal business, so your people skills will play a big role in the success of your massage business.
Here at IKRA Academy of Massage Therapy, we train our students with the proper communication skills to make clients feel comfortable, heard and understood, resulting in more re-bookings throughout their massage careers.
For further details or to reserve a space in the upcoming Swedish I massage course, contact us at (514) 507-7399, and our academic advisors will answer all of your questions.
In order to ensure you get the best training, you must enroll in a highly professional institution that will assist you in establishing a positive reputation in the industry. Here at IKRA Academy of Massage Therapy, we believe in a comprehensive approach that enables students to learn, grow and discover in a positive and friendly atmosphere. Check out our amazing massage programs. Good Luck!
If you are still weighing the pros and cons of signing up for massage therapy training courses, read about it here: Why Get Started in Massage Therapy.